Of course, everyone would be delighted if the supermarkets were full of quality Slovak fruit, vegetables, meat, and other products. However, this ideal cannot be achieved by a policy of self-sufficiency, but by a policy of cooperation.
The fifth-year finals of the Economics Olympiad took place on Tuesday, May 3, 2022, at the Hotel Devín in Bratislava, where we got to know the names of the three best young economists from all over Slovakia.
In Slovakia, the agricultural policy over the last years has been focused on increasing food self-sufficiency. Already in 2014 the Ministry of Agriculture, under the leadership of Ľubomír Jahnátek, aimed to increase the food self-sufficiency rate to 80%.
Protectionism is a frequently used political tool. Sometimes, it is hidden in complicated laws, other times it is presented quite openly. As society is witnessing a wave of populist and nationalist ideas in Europe, especially in Central and Eastern Europe (CEE), protectionist ideas are still widely accepted.
The Slovak agricultural sector suffers from several problems that hinder the competitiveness of farmers: complicated land ownership, due to which (young) farmers cannot access fields, an unpredictable business environment and bureaucracy and, last but not least, lack of investment in capital equipment.
Let’s look at the data – the results of this year’s Economics Olympiad organized by INESS, with over 6,500 high school students involved. We introduce 10 key findings concerning economic skills of the youth in Slovakia.